Friendlier, a Toronto, Canada-based reusable packaging company, raised $5M in funding.
The round, which brought the total amount to $8.35M, was led by Relay Ventures and Garage Capital, with participation from founders and operators.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Kayli Dale, Friendlier is a provider of a reusable packaging solution that features reusable food containers, an app to claim deposits, and returns, which makes it easy for users to enjoy their favorite meals, without waste. Customers pay a deposit which is returned when containers are returned. The containers are then sanitized and recirculated for use.
The company focuses on strengthening its sales team to meet growing demand and establishing new facilities in Guelph and Vancouver, as well as to build a reverse supply chain, supporting reusable packaging at scale as businesses increasingly move away from single-use plastics.
After three years in market, Friendlier recently reached a significant milestone of reusing one million containers, which is the equivalent of 127,000 pounds of plastic waste, 370,000 pounds of CO2 emissions, and 8 million litres of water saved compared to single-use packaging.
To date, Friendlier has raised a total of $8.35 million, including $850,000 in pre-seed funding, $2.5 million in seed funding, and the recent $5 million seed extension. Additionally, the company has secured over $1 million in non-dilutive funding.
FinSMEs
14/12/2023